Hi,

Can you please explain me the payment journal entries of the following :

Amount with Tax ITC

Telephone Expenses$1,356.00156.00

Freight 135.60 16.00

Purchase various inventory 18,0802080.00

Purchase of packaging equipment from a local supplier 6,554.00 754.00

Insurance policy for fire and theft1,700.000.00

Business Entertainmentclient event3,616.000.00

Purchase of goods (for re-sale), from Utah, USA1,380.0065.00

(Assessed Canadian Equivalent is= $1,600)

Installment was paid to the CRA for this quarter 1400.00161.00